Over 3.4 million economic injury disaster loans have been approved nationwide by the U.S. Small Business Administration, totaling over $184 billion, as of Aug. 14. Of that number, 259 are for the Northern Marianas, with the amount totaling $16,386,600.<\/p>\n
In comparison, Guam had 1,286 loans approved totaling $75,469,400; American Samoa had 151 totaling $9,864,100; Puerto Rico had 21,933 totaling $1,159,849,100; and the U.S. Virgin Islands had 1,630 totaling $88,930,500. <\/p>\n
Small businesses that have been hit economically due to COVID-19 all over the U.S., as well as in territories such as the CNMI, are provided with the low-interest federal disaster loan that they can use as working capital. <\/p>\n
Up to $2 million in economic injury disaster loan may be availed of by small businesses, private non-profit organizations, small agricultural cooperatives, and small aquaculture enterprises to help with their operating expenses.<\/p>\n
To apply and avail of this loan, small businesses may download applications at https:\/\/disasterloan.sba.gov\/ela. The deadline to apply is Dec. 21, 2020. <\/p>\n","protected":false},"excerpt":{"rendered":"
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